Need a Certificate of Insurance?
Is someone requesting a certificate of insurance (COI) or proof of insurance from you? Request one here—simply complete the information requested and submit. Your certificate request will be a high priority for us and will be taken care of as soon as possible.
What is a certificate of insurance?
It is a document that summarizes the terms, conditions and duration of an insurance contract. The certificate shows what types of insurance are in place at the time requested.
Why do I need to get a certificate of insurance for each person or company rather than just getting a master copy?
An insurance certificate is a “snapshot in time” so coverage that you have in place today might be different than what is in place tomorrow. Also, each certificate holder wants to be listed in the hopes that if your coverage changes they will be notified. However, unless they are an additional insured there is no duty to notify under the policy.
A certificate of insurance cannot-
Alter, change or amend any coverage that is currently in place. No changes can be made to the policy by using a certificate.
What rights or coverage does a certificate holder have?
None, if the holder is not listed as an additional insured, the certificate gives no rights. The only way to be an additional insured is to be endorsed on the policy.
What is an additional insured?
An additional insured is someone that you are asking the insurance company to provide coverage to under your policy. If you are negligent , for example, and cause damage and both you and the additional insured are sued, you are asking the insurance company to pay both you and the additional insured’s legal fees and liability subject to your policy limit. So, you are basically requesting the insurance company to share your coverage with the additional insured.
Some companies will require an additional fee to process this change; others will require a written contract to be in place. The cost is usually $100-250 per additional insured.
What Is Primary and Non Contributory Language on a certificate of insurance?
When providing a certificate of insurance, they may ask you to include primary and non-contributory language.
Primary coverage means that your policy must pay before other applicable policies.
Noncontributory, means that your policy will not seek contribution from other policies that claim to be primary.
This means that your insurance policy is first. And your company can not seek contribution from the additional insured’s policy, even if they are responsible for part of the claim. You have agreed to accept the full burden of the loss on your policy. This can affect your loss experience if there is a loss. And could affect your future insurance premiums, ultimately affecting your bottom line.
What is the difference between the CG2010 and the CG2037?
We are seeing more and more certificate holders looking for the CG 2037- additional insured for completed operations. The CG2010 only provides the additional insured coverage under your policy while the project is ongoing. But with the CG 2037 they also want coverage after your work is completed.
Ongoing operations refers to when the contractor is on site. Completed Operations refers to when the contractor has completed the job and left. For example, the contractor installed a railing and 2 years later it gives way, and someone is hurt. That would be a completed operations claim.
There is usually a cost for completed operations additional insured and the carrier will need to know the scope of the project, length of time to complete the project, cost of the project and who is being added as the additional insured. Depending on the size of the job the cost can be anywhere from $100-500 to add.
What if the certificate holder requires a waiver of subrogation?
This restricts the rights of your insurance company to collect damages that were caused by the 3rd party (additional insured). Since this is restricting the insurance company’s rights there is generally a charge of $250-$500 for this endorsement.
What is my insurance agent allowed to do for me?
Your agent can give you a complete certificate of insurance that acknowledges effective dates, what coverage or policies, endorsements and limits are in place at this time.
What if there is a request for coverage I don’t currently have?
Simply fill out a quote request on our website , and we will call you, or give us a call at 410-647-1111. Remember that Huff Insurance is a full service agency offering general liability insurance, workers compensation insurance, business automobile insurance and environmental insurance coverage to name a few.
When Requesting your Certificate of Insurance, we must always have the address of the certificate holder even if we are faxing or mailing the form, leaving blanks will only delay the issuance of your certificate.